Northmarq finalizes acquisition financing for The Bammel in Houston, Texas
The Bammel
HOUSTON,TEXAS (October 21, 2021) – John Burke, managing director of Northmarq’s Houston office, arranged acquisition financing for The Bammel. The 132-unit, Class A multifamily property is located in Houston, Texas. The transaction was structured with a 20-year term with 15 years of interest only. Northmarq secured this permanent financing for the borrower using Northmarq’s in-house Fannie Mae team.
“Working with our Fannie Mae team, Northmarq Capital Finance, we were able to satisfy the borrowers unique request of a 20-year term with 15 years of interest only, while accommodating the timing necessary to meet a 1031 exchange,” said Burke.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
